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cash equivalents and other assets that are easily convertible into cash. Some examples are government securities, bank time deposits , and money market fund shares. Bonds close to redemption date are also called near money.
liquid assets, such as time deposits, Treasury bills, and other short-term government securities, that are easily converted to cash on short notice. Near money is, however, excluded from the narrowest definition of the money supply , because, unlike checking accounts and cash, it does not function as a medium of exchange in everyday purchases of goods and services.
Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.